Model Cooperative Network (MCN) recognizes Tagum Cooperative (TC) as one of the Top FOCCUS Cooperatives for 2019 with Special Citation for Full Provision of Allowance on Probable Loan Losses. For the said year, TC garnered the highest over-all PEARLS ratings for Community Cooperatives at 85% alongside First Community Cooperative (FICCO). The Top 2 award was also given for another Community Cooperative in the name of CEV Credit Cooperative with the rating of 81%.
MCN is a federation of FOCCUS-branded cooperatives dedicated to monitoring and examining the operations of the cooperatives to make sure that they achieve and maintain the International Prudential Standards required of Model Cooperatives. The awards were bestowed during the MCN Virtual Ownership Meeting to member cooperatives August 8, 2020.
Tagum Cooperative’s journey in the FOCCUS branding started in 1999 through the introduction of the Model Credit Union Building (MCUB) Technology by the Credit Union Empowerment and Strengthening (CUES) Philippines. MCUB helped Tagum Cooperative to follow good business sense in operations by paying close attention to Finance Management, Credit Management and Marketing Management. Policies were then crafted and systems where put in place, emphasizing on
internal control measures and digitalization of processes. These includes the strong adherence to the 5Cs of Credit and implementation of a uniform Lending Policy abided with by all members, officers and employees. Moreover, Tagum Cooperative has maintained its zero-external borrowing for several years through stringent capacity-based lending standards and continuous education to the member-borrowers.
TC Chairperson Rosalina S. Argent also emphasizes on TC’s commitment in maintaining its 5% delinquency rate, proof that the coop is striving to maintain a healthy financial standing. “We were branded with the FOCCUS brand since 2000 and we pledge to maintain this brand for fifty more years and beyond. We also encourage our sister cooperatives to become FOCCUS branded as an assurance on safety of members’ money, competitiveness in delivering quality financial services and
sustainability of operations in the years to come.” Dir. Argent states.
With over fifty years in service, it’s not surprising that Tagum Cooperative’s list of accolades are getting longer. The tagine “where people invest their trust” continues to be a part of its day-to-day as more and more members entrust their future because of its established lending systems, stressing-out the need for savings build-up before applying for loans and good governance.
More than the plaques and recognitions and the recent expansions of TC, the treasure are the members who keep believing and pushing the homegrown coop in sailing towards its golden era.